So you’ve decided to embark on the challenge of becoming a franchise owner? While this is undoubtedly an exciting time, there are a few crucial steps you’ll need to take before you’re handed the keys to your new business.
One of these important steps in the process is the franchise interview. An interview provides a great opportunity to prove yourself as a prospective franchisee, showing the franchisor that you’ve got what it takes while also giving you the chance to assess whether they’re the right fit for you.
Here’s how you can best approach a franchise interview to make the most of the meeting and ensure you’re prepared.
How Do I Prepare For a Franchise Interview?
Like with any kind of interview, it pays to do your research and plenty of preparation beforehand to increase the chances of getting the desired result.
Research Your Chosen Franchise
If you’ve reached the interview stage, you’re likely already quite familiar with the franchise. However, it is worth refreshing your knowledge and ensuring you know the ins and outs of the company.
Review the franchisor's values and goals and consider how they align with your own. This depth of knowledge will allow you to talk about your own skills and how you’ll fit into the company more confidently.
Research the Wider Industry
Along with being able to discuss specifics about the franchisor, you should also familiarise yourself with the broader industry and market trends. This will demonstrate your interest and expertise in the industry as a whole. Understanding this wider context will also help you think about future plans and the ongoing opportunities that are available to you.
Be Prepared to Talk About Finances
How you’re planning to finance your franchise business is another big part of whether you’ll be successful with your franchise application. Be prepared to talk about your financial stability and readiness to invest.
Here you should be able to provide proof of funds and your franchise business plan, complete with financial projections. Show you understand all the costs involved, including various franchise and royalties fees as well as contingency plans.
Showcase Your Skills & Experience
This is your time to show yourself in the best possible light, so be ready to talk about your achievements and your past roles. It might sound obvious, but you should know your CV inside and out – you’ll want to think about how your current skills and qualities make you especially well-suited to being a franchisee.
Highlight any relevant qualifications or experience with business and management roles to show that you have the right transferable skills to make it in the franchise game.
Prepare Your Own Questions
Franchising is a two-way street, so make sure you come armed with all the questions you need answered by the franchise team themselves. Not only will the right questions continue to demonstrate your understanding of and commitment to the franchise, but it is also your chance to ask those probing questions and get a face-to-face answer.
This will help give you a better picture of the realities of being a franchisee and will set clear expectations. The more informed you are at this stage, the better decisions you can make when it comes to signing any agreements. You can voice concerns or ask about potential challenges to get an idea of how you’ll be supported as a franchisee.
What to Ask in a Franchise Interview
See our guide to the most productive questions to ask your franchisor to get some insight on which topics to cover.
Franchise Interview Questions
Approach the interview like you would an in-depth conversation rather than an interrogation. You can also learn a lot about the franchisor’s values and general character by the questions they ask you, so it’s not all about keeping you on your toes!
There are a few key topics you’ll likely be asked about:
- What interests you about this franchise?
- Why this industry?
- What do you know about the responsibilities of a franchisee?
- Do you have experience with the industry?
- What kind of management skills do you have?
- What other skills do you have that will contribute to the success of the franchise?
- What is your financial situation?
- What are your profit expectations?
- How much time can you dedicate to the business?
- What motivates you?
- Do you have a good support system?
- What do you know about the local market?
- How will you grow your business?
- How will you deal with challenges?
- Do you have any long-term goals or strategies?
You never know exactly what will be asked in an interview, so don’t get too caught up in the details, but it certainly helps to think about the general questions that may come up!
Franchising With Esquires Coffee
If you’re interested in moving forward with a coffee business franchise, the Esquires team is on hand to make it happen. To register your interest, please fill in the application below, which includes the chance to tell us a bit more about yourself and your goals.
Once completed, we’ll get back to you with more information about how your application will proceed.
